Argentina Would Laugh at EU Request to Decrease Food Export to Russia

Argentina will laugh at the European Union's “ridiculously stupid” request not to increase food exports to Russia, believes Peter Koenig, a former World Bank economist.

MOSCOW, August 26 (RIA Novosti), Stanislav Fisher — A short while ago, the Financial Times reported that the European Union is going to talk Latin America out of supplying Russia with foodstuff. Several European diplomats visited countries in the region and Argentina has been singled out as an obvious target for European pressure.

Brussels fails to understand that Russia doesn’t need to import foodstuff from Latin America. In fact, it is Moscow that can help Argentina and other Latin American countries “free themselves from the economic and political pressures constantly exerted … by Washington,” Koenig said.

Commenting on Western sanctions imposed on Russia over the crisis in Ukraine, Koenig said that they would positively affect Russia, as well as Argentina, Brazil, Chile, Peru, etc. They will encourage those countries to “finally escape the claws of the predator empire of Washington and go the way of independence, namely towards a new area of economic sovereignty and world monetary system.”

Koenig pointed out that sanctions promote greater integration of the BRICS countries. Brazil, Russia, India, China and South Africa are likely to “come to a consensus … and issue their own currency, backed by about one third of the world’s economic output and about half the world’s population.”

Over the last few years Russia and China “have forged a solid political and economic alliance”. So they could be the first countries to introduce a new currency “delinked from the corrupt, predatory western monetary system”. That currency could possibly replace the dollar as a global reserve currency.

Russia and China have a combined GDP of $21.1 trillion, equal to about 27% of the world economic output. Therefore, “a Chino-Russian currency would be backed by solid economic output and commodities.” Koenig explained that the US GDP ($17 trillion), on the other hand, is “mostly based on the output of the financial services industry and its military industrial complex, meaning it's a GDP of destruction, overconsumption as well as hollow financial and legal services.”

Koenig believes that Argentina could become the first country “to free itself from the economic sledgehammer of the immoral United States and at the same time enter into trade agreements with Russia and China.” That could be reasonable considering that “90% of Argentina’s foreign trade takes place outside of the realm of the US dollar” and that the country is likely to be locked out of dollar-based financial system.

The economist is confident that it is only a matter of time until much of the rest of the world “will jump on the occasion and abandon the dollar. All it needs is one country that dares to take this first step, fearless of sanctions.”

Koenig also said that if Brussels keeps on pushing Argentina thus “helping Obama and his blood-thirsty NATO war machine engage Russia in WWIII,” Europe runs the risk of being destroyed. He asks: “Don’t they realize that Russia not only wants to save Europe from another humanitarian disaster, but would like to help them out of their Wall Street imposed economic disaster?”

Koenig maintains that Europe has to realize it should “get rid of their Washington-imposed neoliberal thieves” and seek a healthy alliance with the East. He emphasized that it is never too late to make the right choice.

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